- PDF Version
The Alabama LLC operating agreement is a form that is recommended for all companies created within the State to set the rules and conditions of how the entity will be run.
Especially if there is more than one owner, this form acts as the ownership card and details the following (but not limited to);
- Ownership interests of each partner (As a percentage %)
- Initial capital contributed from each member and hoe he or she will be paid back
- How long the company will run (if no end date then “perpetual”)
- Buy-outs of existing members (optional)
- How members may be added (optional)
- Management of the business
Once the form is complete it is a good idea to have signatures witnessed by a third party or notary public. The form is in accordance with Title 10 Chapter 12 otherwise known as the ‘Alabama Limited Liability Company Act’.
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